MIDDLEFIELD, Ohio (WYTV) – The parent company of Kraftmaid Cabinetry in Middlefield and Orwell announced this week that the company is being sold.
Michigan-based Masco Corporation said in a news release that it will sell off its cabinetry and window business units in three separate transactions.
“We expect the sales of these businesses will be concluded in approximately six to nine months, assuming that each of these transactions can be completed on acceptable terms and conditions,” said Keith Allman, Masco’s president and CEO.
Allman said the sale will reduce its business in the new construction market, which is cyclical, and allow for a more focused effort on plumbing and decorative architectural products.
For 2018, the Cabinetry Products and Windows and Other Specialty Products segments on a combined basis reported $1.7 billion in net sales.